Business · Companies · 2 hrs ago
Cleanaway Shares Rise 21% After A$9.3 Billion EQT Takeover Deal
An EQT unit agreed to buy Cleanaway for about A$9.3 billion, including debt.
Cleanaway is an Australian waste management company.
Its shares rose 21%, their biggest jump in 15 years.
The deal would take Cleanaway into private ownership.
It follows a period in which the company’s shares had underperformed.
The sale is part of a wider trend of Australian companies entering private hands.
The next step is the completion of the takeover, though no timing is given.
Cleanaway Waste Management agreed to be acquired by EQT Infrastructure for A$3.095 cash per share, in a deal valued at about A$9.3 billion.
Cleanaway shares rose 21% after the takeover deal was announced, according to Bloomberg.
The offer represents a 34.5% premium to Cleanaway’s three-month volume-weighted average price.
Cleanaway’s board unanimously recommends the scheme, subject to no superior proposal and a positive conclusion from an independent expert.
Shareholders are expected to vote on the scheme before the end of February 2027, with completion targeted by the end of March 2027 if conditions are met.
- Who
- Cleanaway Waste Management and EQT Infrastructure.
- What
- EQT Infrastructure agreed to acquire all of Cleanaway’s shares for A$3.095 cash per share, subject to conditions.
- When
- The deal was announced on 18 October 2026.
- Where
- Australia.
- Why
- The board says the scheme offers shareholders strong and certain cash value at a significant premium. EQT’s reason is Not stated.
This story does not have two clearly opposing sides.
Cleanaway announced it had entered a Scheme Implementation Deed with EQT Infrastructure.
Cleanaway shares rose 21% after the takeover deal was announced, according to Bloomberg.
Cleanaway shareholders are expected to vote on the scheme.
Completion is targeted if the required conditions are met.
- Offer price
- A$3.095 cash per share, less any dividends
- Deal valuation
- Approximately A$9.3 billion
- Share-price move
- Up 21%, according to Bloomberg
- Premium
- 34.5% to the three-month VWAP
- Potential special dividend
- A$0.145 to A$0.190 per share
- Expected shareholder vote
- Before the end of February 2027
2 sources
What people are saying
The Board is unanimous in its view that the Scheme delivers strong and certain cash value to shareholders, at a significant premium to Cleanaway's undisturbed share price.